NEWS + PRESS

LAKEWOOD, NJ, Feb. 04, 2020 — via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), announces uplisting to the OTCQB Venture Market (OTCQB).

Ezra Beyman, CEO of Reliance Global Group, stated, “We are proud to officially mark RELI’s uplisting to the OTCQB Venture Market (OTCQB), and would like to thank our shareholders for your continued support as we worked towards this important milestone. Joining the OTCQB elevates Reliance’s profile within the investment community, which we expect will help improve liquidity and broaden our shareholder base. We are preparing the 2019 audit to become fully SEC-reporting, and are diligently working on a variety of significant potential acquisitions to increase shareholder value. With our arrival to OTCQB, our next goal is to uplist to a senior national exchange such as the NASDAQ or NYSE, once we qualify for listing. We are excited for RELI’s future, and strongly believe there are bigger and better things to come!”

The OTCQB Venture Market, operated by OTC Markets Group Inc. in New York City, is a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing investors high-quality trading and improved market visibility to enhance trading liquidity. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB quality standards provide a baseline for financial transparency and provide more comprehensive compliance requirements. The Securities and Exchange Commission (SEC) considers the OTCQB as an “established public market” for determining the public market price, allowing broker dealers and their customers to more easily trade stocks that may have been previously forbidden due to the confines of the less rigorous Pink Open Market standards.

On January 29, 2020, the Company announced that John Lowy was joining the Board of Directors. However, it was determined that Mr. Lowy would not qualify as an independent director in accordance with OTC Markets’ new rules regarding independence of directors; and accordingly, he declined his nomination to the Board. As a result, the Board now consists of Ezra Beyman, Alex Blumenfrucht, Scott Korman and Ben Fruchtzweig, which satisfies the independence requirements for OTC Markets.

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

Appointments Fulfill Key Steps Towards Meeting the Requirements of OTCQB Venture Market and Listing on a National Stock Exchange

LAKEWOOD, NJ, Jan. 29, 2020 — via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced that Ben Fruchtzweig and John Lowy have joined the Company’s Board of Directors. The Company also announced that Ben Fruchtzweig and Scott Korman, a current member of the Board, have joined the Audit Committee of the Board of Directors.

Ezra Beyman, CEO of Reliance Global Group, stated, “We are delighted to welcome John and Ben to the Board of Directors. They both bring decades of legal, financial and capital markets experience, which we believe will be invaluable as we continue our growth at a national level. At the same time, we are pleased to announce the appointments of Ben and Scott to the Audit Committee of the Board. We remain committed to the highest levels of corporate governance as we position ourselves as a premier holding company in the real estate and insurance sectors. Moreover, we believe we now meet the requirements of the OTCQB Venture Market (OTCQB) and are moving forward towards our goal of listing on a national exchange. As previously reported, our OTCQB application has been submitted and we believe we are close to final approval.”

Ben Fruchtzweig brings decades of executive experience in accounting and financial services. He has served as Chief Comptroller/Financial Analyst at national financial services and investment companies. He received his NYS C.P.A license in 1987 and has worked at Deloitte Haskins and Sells and other leading accounting firms. Currently, Mr. Fruchtzweig lectures on a variety of topics including business ethics. He also serves on a voluntary basis as a trustee of a non-profit private foundation, which serves to provide the needed financial support, services and guidance to qualifying individuals and families. Mr. Fruchtzweig graduated Magna Cum Laude from Queens College/ C.U.N.Y. in June 1985.

John Lowy is the founder and senior partner of the law firm John B. Lowy PC and is also founder and CEO of Olympic Capital Group, Inc. (“Olympic”), founded in 1993. The law firm specializes in corporate and securities laws and has represented clients from various industries that have gone public via IPOs and reverse mergers. Olympic is a boutique NY-based investment banking firm, which specializes in assisting its clients, both public and private companies, in raising capital, both debt and equity, and has raised capital in hundreds of transactions. Mr. Lowy is a FINRA-registered Series 79 investment banker. He is a graduate of Tufts University and the University of Pennsylvania Law School and is a licensed attorney in New York and New Jersey.

Mr. Korman currently serves as President of Nashone, Inc., a private equity firm, which he founded in 1984. In this role, Mr. Korman is involved in financial advisory, M&A, and general management assignments. He is a founder and Managing Partner of Convergence Merchant Bank, as well as founder and CEO of Illumina Radiopharmaceuticals LLC, CEO of Red Mountain Medical Holdings, Inc., and founder of CDx Medical Holdings, Inc. Mr. Korman previously served as Chairman of Da-Tech Corporation, a Pennsylvania based contract electronics manufacturer and as Chairman and CEO of Best Manufacturing Group LLC, a leading manufacturer and distributor of uniforms, napery, service apparel, and hospitality and healthcare textiles. Mr. Korman also served as President and CEO of Welsh Farms Inc., a full-service dairy processor and distributor of milk, ice cream mix and ice cream products. Mr. Korman received a B.S. degree in Economics from the University of Pennsylvania Wharton School. He has served as a member of the Board of Directors of Tofutti Brands, Inc. since December 2011, and advises companies including Damina Advisors, CFO Squad, Beis Capital LLC and Cinch Delivers LLC. He also serves on the boards of various not-for-profit groups and was the founder of the Englewood Business Forum.

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, NJ, Jan. 14, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced the completion of the Company’s 2018 consolidated audit by Friedman, LLP, the Company’s independent registered public accountant. The audit will be available on the OTC Markets website.

Ezra Beyman, CEO of Reliance Global Group, stated, “We are pleased to announce the completion of our 2018 audit, which fulfills an important requirement towards our planned listing on the OTCQB Venture Market (OTCQB). Our OTCQB application has been submitted and we are awaiting approval. We are on track to list on the OTCQB with a goal to list on a national exchange later thereafter. Overall, we have made significant financial and operational progress, as illustrated by the fact we are now at an annual revenue run in excess of $7 million with over $17 million of assets as of September 30, 2019. We are further evaluating several other potentially significant opportunities, consistent with our strategy of identifying undervalued and accretive acquisition targets.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, NJ, Dec. 30, 2019 — via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today provided a year-end update for shareholders.

Ezra Beyman, CEO of Reliance Global Group, stated, “2019 was an eventful year for Reliance Global Group. Most recently, we executed the contract to acquire a 260-unit multi-family property and announced a letter of intent to acquire a multi-family property consisting of 176 apartment units. These acquisitions are consistent with our strategy to acquire undervalued multi-family properties with sustainable cash flows in attractive markets. All our acquisitions are subject to strict due diligence, and we are currently evaluating several other potentially significant opportunities.

“We also continue to execute on our acquisition strategy in the insurance sector by identifying undervalued, and accretive transactions that leverage our national infrastructure. In September, we completed the acquisition of Altruis Benefit Consulting, which specializes in providing individual and group health insurance. We also transferred both Southwestern Montana Insurance, a group health insurance company providing employee benefits insurance to groups and individuals, as well as Fortman Insurance Agency, LLC, which provides personal and commercial insurance lines, into Reliance Global Group from the Company’s affiliate, Reliance Global Holdings LLC. As a result, we have now acquired six insurance agencies, collectively operating at a revenue run rate in excess of $7 million and have identified additional potential acquisitions to help further scale the business.

“In addition to our operational progress, we recently submitted our application to list on the OTCQB, an important stepping-stone towards our planned listing on a national exchange. Our independent auditors have substantially completed the audit and despite the holiday-related delays, we now expect to complete and announce our audited financial results in early January 2020. Overall, we remain extremely encouraged by the outlook for business, and believe that we have built a solid foundation for growth. In addition to our recent and planned acquisitions, we have identified additional targets to help further scale the business and drive cash flow going forward. 2020 is shaping up to be another exciting year for Reliance Global Group, and I would like to wish all our shareholders a happy and healthy New Year.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, N.J., Dec. 19, 2019 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced that the Company has applied for OTCQB Venture Market (OTCQB) listing. The listing is subject to delivery of the Company’s 2018 consolidated audit by Friedman, LLP, the Company’s independent registered public accountant, which is substantially completed and will be posted immediately thereafter. Upon listing on the OTCQB, the Company will continue to trade under the symbol “RELI.”

Ezra Beyman, CEO of Reliance Global Group, stated, “Submitting our application for the OTCQB is an important stepping-stone towards our planned listing on a national exchange. We believe the move to the OTCQB will provide greater transparency and increased exposure, as many broker dealers are unable to trade or recommend OTC Pink stocks.”

Mr. Beyman continued, “This is an exciting time for the Company, as we continue to execute on our business plan. It is important to note that our 2018 audited financial results will not reflect the acquisitions in 2019, which put us at a revenue run in excess of $7 million with over $17 million of assets as of September 30, 2019. Moreover, we have identified additional acquisitions we believe will help further scale the business and contribute to enhancing our balance sheet and cash flow going forward. Overall, 2019 has been an eventful year and we look forward to a number of significant developments as we head into the new year.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, NJ, Dec. 12, 2019 — via NEWMEDIAWIRE —Reliance Global Group, Inc. (OTC: RELI) ( “RELI” or the “Company”), today announced that Scott Korman has joined the Company’s Board of Directors.

Mr. Korman currently serves as President of Nashone, Inc., a private equity firm, which he founded in 1984. In this role, Mr. Korman is involved in financial advisory, M&A, and general management assignments. He is a founder and Managing Partner of Convergence Merchant Bank, as well as founder and CEO of Illumina Radiopharmaceuticals LLC, CEO of Red Mountain Medical Holdings, Inc., and founder of CDx Medical Holdings, Inc. Mr. Korman previously served as Chairman of Da-Tech Corporation, a Pennsylvania based contract electronics manufacturer and as Chairman and CEO of Best Manufacturing Group LLC, a leading manufacturer and distributor of uniforms, napery, service apparel, and hospitality and healthcare textiles. Mr. Korman also served as President and CEO of Welsh Farms Inc., a full-service dairy processor and distributor of milk, ice cream mix and ice cream products. Mr. Korman received a B.S. degree in Economics from the University of Pennsylvania Wharton School. He has served as a member of the Board of Directors of Tofutti Brands, Inc. since December 2011, and advises companies including Damina Advisors, CFO Squad, Beis Capital LLC and Cinch Delivers LLC. He also serves on the boards of various not-for-profit groups and was the founder of the Englewood Business Forum.

Ezra Beyman, CEO of RELI, stated, “As a successful private equity investor, CEO, and advisor to numerous companies, we are delighted to welcome Scott to the Board of Directors. He brings extensive financial, operational, M&A, and capital markets experience, all of which we believe will benefit Reliance as we execute our strategy to acquire undervalued and accretive businesses that leverage our national infrastructure and core expertise within the real estate and insurance markets. Moreover, as an independent board member, his appointment brings us another step closer towards our goal of listing on a national stock exchange.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company in the real estate and insurance brokerage sectors, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New Jersey-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, N.J., Nov. 19, 2019 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced that Reliance Global Holdings LLC (“Reliance LLC”), RELI’s affiliated privately-owned LLC, has completed due diligence on its previously announced LOI to acquire a 260 unit multi-family property, and executed the contract to acquire these properties. Reliance LLC is formally under contract and has released from escrow all deposited funds. RELI intends to complete the acquisition of the first 117 units in January 2020. Once completed, this will be RELI’s first acquisition in the real estate sector.

The properties consist of approximately 260 total planned apartment units located in a strong market on the East Coast. Construction of the first 117 units was completed in 2017 and is 97% occupied. The second phase of construction, consisting of 143 apartment units, is expected to be completed mid-2020. All of the completed units have been pre-leased, subject only to total completion of construction. RELI intends to acquire the remaining 143 units promptly after construction has been completed.

Ezra Beyman, CEO of RELI, stated, “We are pleased to announce the execution of the Contract to acquire these premier properties and will provide further updates upon completion each phase of the transaction. We were attracted by the high occupancy rate and growth in the area. This acquisition, combined with our previously announced PSA to acquire 176 apartment units located in the Central region of the US, is strong validation of our business model to acquire undervalued multi-family properties with sustainable cash flows in attractive markets.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company in the real estate and insurance brokerage sectors, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New Jersey-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, NJ, Oct. 29, 2019 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced that Reliance Global Holdings LLC (“Reliance LLC”), RELI’s affiliated privately-owned LLC, has signed a Letter of Intent (LOI) to acquire a multi-family property for a purchase price of $15.2 million.

The property consists of 176 apartment units, built in the late 1990s, located in a strong market in the central region of the US. The property currently has a high 95% occupancy rate.

Upon completion of the acquisition, RELI anticipates completing an SEC-compliant audit of this multi-family property, to enable it to become an important component of the assets and business of RELI when the Company becomes a SEC-reporting issuer again.

Additionally, RELI is pleased to announce an update to its previously announced PSA on October 2, 2019, pursuant to which Reliance LLC agreed to acquire two contiguous Class A multi-family properties for a total purchase price of $42.5 million. The Company is nearing the end of its third-party’s due diligence review, and the preliminary results have surpassed our current underwriting.

Ezra Beyman, CEO of RELI, stated, “We are pleased to announce execution of the LOI to acquire these premier properties and will provide further updates upon completion of the transaction. We were attracted by the high occupancy rate and growth in the area. This latest LOI, combined with our previously announced SPA to acquire 260 apartment units located on the East Coast, are strong validation our business model to acquire undervalued properties with sustainable cash flows in attractive markets.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company in the real estate and insurance brokerage sectors, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New Jersey-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

LAKEWOOD, N.J., Oct. 02, 2019 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced Reliance Global Holdings LLC, (“Reliance LLC”), RELI’s affiliated privately-owned LLC, has executed the purchase and sale agreement to acquire two contiguous Class A multi-family properties for a total purchase price of $42.5 million, following the signing of the letter of intent, as previously announced on August 19, 2019.

The properties consist of approximately 260 apartment units located in a strong market on the East Coast. The first phase of construction, which consists of 117 units, was completed in 2017, and is 97% occupied. The second phase of construction, consisting of 143 apartment units, is expected to be completed mid-2020, and all of the completed units have been pre-leased, subject only to total completion of construction.

As previously announced, Reliance Global Holdings, LLC transferred $250,000 to RELI, which has been used as the initial down payment due upon execution of the purchase agreement; that $250,000 has now been transferred by RELI to the escrow agent, in anticipation of the closing of the purchase.

Closing of the purchase of the properties is subject to satisfactory completion of final due diligence, and bank financing, which is in progress. Upon completion of the acquisition, RELI anticipates completing an SEC-compliant audit of these multi-family properties, to enable them to become a component of the Company’s assets and business, when RELI becomes a SEC-reporting issuer again.

If for any reason the SEC-compliant audit is delayed, after the acquisition of the properties by Reliance LLC, it is nevertheless RELI management’s clear intention to cause Reliance LLC to contribute to RELI the ongoing profits generated by these two properties, on a permanent basis. Upon completion of the audit Reliance LLC will then contribute the properties to RELI.

Ezra Beyman, CEO of RELI, stated, “We are pleased to announce execution of the purchase and sale agreement to acquire these premier properties, and will provide further updates upon completion of the transaction. We were attracted by the high occupancy rate and job growth in the area. Overall, we remain extremely encouraged by the outlook for the business as we aggressively build our portfolio of undervalued properties with sustainable cash flows in attractive markets.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company in the real estate and insurance brokerage sectors, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New Jersey-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

Lakewood, NJ, Sept. 10, 2019 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), is pleased to announce that it has completed the acquisition of Altruis Benefit Consulting. The acquisition follows a letter of intent between the parties as previously announced on May 8, 2019.

Headquartered in Bingham Farms, Michigan, Altruis serves customers throughout the entire State of Michigan, specializing in providing individual and group health insurance. Altruis generated revenue of approximately $2.5 million in 2018. The transaction was completed through a combination of $1.4 million of cash, provided by Reliance Global Holdings, LLC, a Company controlled by Ezra Beyman, CEO of RELI, as well as $4.1 million debt from an unaffiliated lender, and the issuance of approximately 11.9 million shares of restricted stock. Insurance agencies, as opposed to carriers, bear no insurance risk.

The Company further announces that it has transferred into RELI both Southwestern Montana Insurance, a group health insurance company providing employee benefits insurance to groups and individuals, as well as Fortman Insurance Agency, LLC, which provides personal and commercial insurance lines. As previously announced in April and May 2019, respectively, Southwestern Montana Insurance and Fortman Insurance Agency, LLC, had been acquired by the Company’s affiliate, Reliance Global Holdings LLC. Reliance Global Holdings LLC has transferred its ownership in the two companies to RELI, in exchange for approximately 14.8 million shares of restricted common stock. Southwestern Montana Insurance and Fortman Insurance Agency, LLC collectively generated approximately $3.1 million of revenue in 2018.

Ezra Beyman, RELI’s CEO, stated, “We continue to aggressively execute on our acquisition strategy in the insurance agency sector. Since taking over control of RELI in September of 2018, we are now operating at a revenue run in excess of $7 million and have made acquisitions in excess of $16 million. In addition, we have identified numerous additional acquisitions to help further scale the business. Overall, we remain committed to identifying undervalued, and accretive transactions that leverage our national infrastructure and core expertise within the real estate and insurance markets.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Company Contact:

Crescendo Communications, LLC

Tel: +1 (212) 671-1020

Email: RELI@crescendo-ir.com